CHAPTER 2: CURRENT SITUATION OF EMPLOYEE MOTIVATION AT
2.1.6. Summary of policies and changes to policies for employees
BIDV is one of the leading financial institutions in Vietnam. With the motto of treating people as the most valuable asset, as the core competitive resource, BIDV always pay attention to and invest in the development of human resources of the system. The human resources management at BIDV has been continuously improved to meet the development requirements of the bank.
At present, BIDV has issued a comprehensive system of policy documents and regulations in human resource management such as recruitment, training, appointment planning, rewards, salary and so on, including:
Formulating policies on labor streamlining and improving the quality of human resources. In particular, applying incentive policies, supporting workers who have low productivity and efficiency, fail to meet job requirements, unable to integrate into the working environments, etc., to submit their job resignation.
Developing and applying recruitment regulations with conditions, requirements, recruitment procedures for each position, title, and job, as the basis of organizing recruitment and selecting qualified workforce, in line with requirements of working positions.
Organizing training courses and assimilating new staff in order to help them to capture and integrate quickly with working environment and culture at BIDV.
Developing annual and periodical training plans with professional courses for employees to improve their qualifications, knowledge, professional skills, foreign languages, soft skills ....
Developing Employment Evaluation Regulation and KPIs with specific quantified criteria for each job position to evaluate and rank employees periodically as the basis for implementing remuneration and policies for employees.
Developing regulations of planning, promotion and rotation in order to help employees orient and strive to work for their professional development.
Developing policies of salary, remuneration and commission based on job position, contribution and work efficiency of employees in line with salary trend in the labor market.
Complying and strictly implementing regulations and policies applicable to employees in accordance with law.
Human resources management in 2017
Recruitment: In 2017, BIDV continued centralized recruitment for the entire system. BIDV has applied recruitment software and IT on some major steps of recruitment process, expressing the publicity, transparency, and consistency on the whole system, and ensuring the candidates‘ quality in line with requirements of each location. Thereby, BIDV has attracted high quality candidates from all regions
across the country, creating good impression on the society in general and on candidates in particular, contributing to promote and enhance BIDV‘s brand and image on the market.
Training: In 2017, BIDV organized 410 courses for 31,344 trainees, focusing on E- learning to improve working skills, professional knowledge, etc. BIDV continued to successfully implement the 05th and 06th Curriculum Future Banking Leaders with many improvements following trends in modern banking operations; hold courses to update knowledge for units‘ leaders; provide training to source personnel of Mekong Delta, etc. Quality of the training courses has been improved, especially their practicality and organizational activities.
Besides the internal training, BIDV also co-ordinate with partners to organize courses such as: short-term banking training courses held by the State Bank and Luxembourg financial technology transfer Department, high-level political theoretical training… Up to now, results from such training have helped to improve the professional capacity and skills of the staff, applying them to the practical work of the units.
Staff promotion: The staff planning has been conducted methodically in compliance with the provisions of the Party and the State on the principle of democratic centralism; The staff planning has been conducted methodically in compliance with the provisions of the Party and the State on the principle of democratic centralism.
List of the planning has been supplemented, adjusted on the basis of closely following development of the staff, removing from the list who no longer qualified, conditioned, and no prospects, and adding to the list new prospective factors…
Associated with the planning is the promotion. In 2017, BIDV continuously implemented to strengthen the senior management team, ensuring compliance with the provisions of the Law of Credit Institutions, and the guidance documentaries of organization and operation of the join stocks commercial banks. The promotion of leaders at all levels is conducted in accordance with the regulations and procedures.
Therefore, staff who is promoted, is exemplary, has good prestige, typical worker on the field. After promotion, they would elevate the role of key staff, which
enhances both quality and quantity for the key personnel team of the Headquarter and the whole system.
Rotation and evaluation: In 2017, the rotation and evaluation of staff was conducted synchronously with many reforms in terms of contents and techniques: Staff rotation between Headquarter and branches was sped up in order to educate and cultivate staff, at the same time, contributing in supplying and enhancing professional human resources from Headquarters to support branches. Rotation for training and cultivation to meet the requirements of management and internal control in all units is also implemented regularly and constantly; gradually forming common practices, positive habits for officers and staffs.
Salary and benefits: Regular/ad-hoc salary rising for employees in the whole system was carried out fully and in accordance with the regulations. At the same time, BIDV always researches and improves commensurate policy to create motivation for each position. The regimes and policies for employees have been implemented, resolved timely and thoroughly with concern from the authorities and unions;
assuring the rights of employees such as social insurance, health care insurance, unemployment insurance, BIC insurance, MetLife insurance, Volunteer pension insurance BIDV-MetLife, sickness, pregnancy, retirement, vacation, birthday,...
Emulation work: Having various positive and remarkable changes. the maintenance and development of emulation activities are closely tied up with professional works, becoming the driving force for the business activities of the units. The complimentary work ensures timely, accuracy, right person, right work, right achievement, to maximize the capabilities and creativity of all employees and workers, striving to complete the assigned political tasks, contributing to the overall success of the whole BIDV system. On the occasion of its 60th anniversary, BIDV has been honored by the President of the Socialist Republic of Vietnam for the first- class Labor Medal, the Lao State Award for the first-class independent medal and the King of Cambodia for the "MONISARAPHON medal rank MOHA SEREI VATH" (the highest noble reward).
2.2. Analyze and evaluate current situation of employee motivation at BIDV – head office